In accordance with the trade agreement signed on 2 July 2009, Wulff-Group Plc
has today acquired a majority interest in the Nordic company Strålfors Supplies
AB. Strålfors Supplies AB will boost Wulff-Group Plc’s business in Scandinavia
substantially. This acquisition will also make it the biggest Nordic player in
the field. The company’s pro forma net sales in the accounting period ended on
31 December 2008 totalled SEK 356.9 million (EUR 32.5 million) and its pro forma
operating profit was SEK 12.3 million (EUR 1.1 million). Strålfors Supplies AB,
which sells office and computer supplies based on the contract customer concept,
operates in Sweden, Norway and Denmark. The company has a staff of 43 people and
employs 60 people in total.

Strålfors Supplies AB will continue to operate as an independent unit at its
current facilities and with the current staff. Trond Fikseaunet will continue as
the Managing Director.

The price of the acquired shares was specified to total SEK 37.2 million (EUR
3.6 million), while the price determined on 2 July 2009 was SEK 40 million. The
final sales price is based on the company’s balance sheet on 31 July 2009, and
the purchase price is not expected to significantly change. The transaction is
financed partly with Wulff-Group Plc’s liquid assets and partly with long-term

In the transaction, a holding company established by Wulff-Group Plc in Sweden
acquired 100% of Strålfors Supplies AB’s shares and votes. Wulff-Group Plc owns
80% and Strålfors AB 20% of the holding company. A total of 12% of the holding
company’s shares will be sold to five key employees of Strålfors Supplies AB.
Following the transaction, Wulff-Group Plc will, through the holding company,
hold 68% of the shares of Strålfors Supplies AB, while the five key Strålfors
Supplies AB employees command 12% and Strålfors AB 20%. Wulff-Group Plc will
acquire the remaining 20% of shares from Strålfors AB 2011.

Strålfors Supplies AB’s unaudited pro forma net sales for 2009 (until 31 May
2009) totalled SEK 143.2 million (EUR 13.6 million) and its pro forma operating
profit was SEK 3.9 million (EUR 355,375). On 31 May, 2009, the company’s
long-term assets totalled SEK 36.4 million (EUR 3.35 million), short-term assets
SEK 65.2 million (EUR 6 million), long-term non-interest-bearing liabilities SEK
46.4 million (EUR 4.28 million) and short-term liabilities SEK 38.1 million (EUR
3.51 million). The long-term assets and liabilities are internal items related
to the company’s prior ownership structure and they have no operative effect on
the company’s balance sheet. Strålfors Supplies AB will be consolidated into
Wulff-Group as of the beginning of August 2009. After the acquisition,
Wulff-Group’s consolidated balance sheet total (pro forma) is estimated to
increase approximately to EUR 46 million.

Heikki Vienola, CEO of Wulff-Group Plc, believes that the acquisition, which is
in line with the company’s Nordic growth strategy, will have a positive impact
on the Group’s performance. ”Strålfors Supplies AB is a well managed and
profitable company. I believe the deal will begin to have a positive impact on
our earnings per share this year. The deal will increase the Group’s annual net
sales by some 40 per cent, making us a key player in the Nordic countries.
Strålfors Supplies has several important, long-term customers and is partner to
many of Scandinavia’s biggest companies. The deal enables us to develop a
contract customer concept for large Nordic customers. The boost to our
Scandinavian operations and the increasingly close Nordic cooperation within the
Group will also benefit purchasing and logistics. Our new setup also entails
considerable growth potential.”

Trond Fikseaunet, Managing Director of Strålfors Supplies AB, is satisfied with
the new owner. ”Strålfors Supplies will get a competent owner from Wulff-Group –
one with a strong drive to develop the business and pioneer the field.
Wulff-Group is a solvent listed company, whose strategy emphasises continued
growth. This is a great opportunity for us to take part in generating growth and
to develop our operations. Our goal is to provide customers with solutions that
offer them as much added value as possible. In cooperation with Wulff, we can
offer increasingly versatile services of ever higher quality. I consider our
cooperation to be a significant competitive advantage.”

Strålfors Supplies AB was a subsidiary of Strålfors AB, a Swedish information
logistics provider. Strålfors AB operates in the field of information logistics
in Sweden, Norway, Denmark, Finland, France, the UK, Poland and Switzerland and
is the market leader in the Nordic countries. It has been owned by Posten AB
since 2006. Strålfors Supplies AB, which focuses on selling office and computer
supplies to contract customers, has nearly 6,000 customers in Sweden, Norway and
Denmark. 47 per cent of Strålfors AB’s turnover comes from Sweden, 46 per cent
from Norway and 7 per cent from Denmark.

Wulff-Group Plc is the Finnish market leader in all of the main product groups
that it sells. The company sells and markets office supplies, computer
accessories, corporate promotional products, ergonomic products, as well as fair
and event marketing services. Wulff-Group Plc is the only listed office supplies
company in the Nordic countries. Its long-term goal is to become the Nordic
market leader in its field. The Group has nearly 80,000 customers and over 450
employees, around 70% of them in sales. Wulff-Group Plc’s net sales in 2008
totalled EUR 76.2 million and its operating profit was EUR 2.3 million. After
the acquisition, the equity ratio of Wulff-Group will amount approximately to
43%. The acquisition supports Wulff’s growth strategy, in which acquisitions
hold a key role.


Heikki Vienola


Further information:

Heikki Vienola, CEO
tel. +358 (0)9 5259 0050 or +358 (0)50 65 110
email heikki.vienola@wulff.fi

Key media

After the acquisition, the equity ratio of Wulff-Group will amount approximately
to 43%.